Investing
Morgan Stanley, Stating The Obvious, Says Stocks Ran Up Too Fast
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Even a school child knows that when stocks move up over 20% in two weeks that the odds of a sell-off are extremely high. At some point even the most optimistic investors are going to take profits.
Morgan Stanley seems to have come to the conclusion that, for the time being, selling equities is a good idea. The firm published the recommendation just as the market dropped 4% today.
According to Bloomberg, “Investors should sell U.S. stocks following the steepest rally since the 1930s because earnings are likely to keep weakening, according to Morgan Stanley.” Any MS clients who took that day off may be getting the advice a little late in the game.
Douglas A. McIntyre
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